PF Deduction From Salary - Pf Deductions

I want to know about PF deductions from salary: accounts, dates, percentages, etc. Also, related forms in the PF Act.

Dear Kavita,

In fact, I am not getting your exact requirements. Anyways, to know more about PF and download some forms, you may go through the link provided below.

Regards,

Amit Seth.

1. PF Percentage:
- 12% from Employee (Basic)
- 13.61% from Employer (Basic)

2. Account No. on PF Challan:
- A/C No. 1 - 3.67% Employer Share and 12% Employee Share (PF Account)
- A/C No. 2 - 1.10% Employer Share (Admin. Charges)
- A/C No. 10 - 8.33% Employer Share (Pension Scheme)
- A/C No. 21 - 0.50% Employer Share (Employee Deposit Link Insurance)
- A/C No. 22 - 0.01% Employer Share (EDLI Ins. Charges)

3. PF Challan should be deposited before the 15th of every month, but the grace period is 5 days.

4. PF Monthly return should be deposited before the 25th of every month.

I hope this helps you.

Regards,
Raj

Hi!

Thank you for the details about the PF deduction. Please provide me with the complete details of deductions, including each account and specify whether the deduction is based on basic salary or gross salary. I need this information for all account numbers.

Hi,

What Raj is saying is absolutely correct. PF should always be contributed on (Basic + DA) as per the Act. There are 5 accounts, as Raj stated, in which the contributions are deposited. The PF deduction for an employee is 12% of his/her (Basic + DA); however, it is contributed from the employer's side as 13.61% - (12% for the employee account + 1.61% for Admin, EDLI, etc.)

I hope this answer is satisfactory for you.

Regards

Basic Wages:

"Basic Wages" means all emoluments earned by an employee while on duty, leave, or holiday with wages in accordance with the terms of the contract of employment and which are paid or payable in cash but do not include:

- The cash value of any food concession.
- Any dearness allowance (that is, all cash payments by whatever name called, paid to an employee on account of a rise in the cost of living), house rent allowance, overtime allowance, bonus, commission, or any other allowance payable to the employee in respect of employment or work done in such employment.
- Any present made by the employer.

Hi all,

I want to know the PF forms numbers and formats, ESIC calculation formula, wage formula, and what mandatory deductions are included in the salary slip, along with all basic salary brackets. Please help me.

Hi,

Please explain to me the 13.61% employer PF deduction. Is the PF deduction percentage fixed for every level of employee? And is it the same for every company?

Dear All,

Good Afternoon,

Can anyone share the details where we will get the exact idea of contribution towards PF through the employer and employees' side? In my establishment, we have set the PF capping from the employers' as well as the employees' side, i.e.,

- ₹780 from the employee side (12% on ₹6500)
- ₹885 from the employer's side (13.61% on ₹6500)

We are planning to change the PF contribution for the employee from capping at ₹6500 to the actual of their basic salary. Kindly confirm if this can be done. If yes, what is the procedure, and have any documents been published regarding this through PF?

Looking forward to hearing from you. Have a great day.

Can anybody tell me what present PF account-wise deduction?

Thank you.

Dear Sir,

My EE amount is Rs 48,000, which is above the ER amount of Rs 25,000. I applied for withdrawal using forms 16 and 10C, but I only received Rs 23,000. I am seeking information as to why I received a lesser amount and wish to claim the full amount owed to me.

Please provide me with the necessary details.

Thank you.

We require the government resolution on PF deduction from salary in PDF format. If anybody has it, please share.

PF deductions from salary are an essential aspect of financial planning, ensuring a secure future post-retirement. Though it may seem like a reduction in take-home pay, it ultimately contributes to building a reliable retirement fund. Embrace the long-term benefits for a financially stable tomorrow!

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